French industrial firm Schneider Electric is in advanced discussions to acquire U.S. engineering software provider PTC for about $20 billion, according to people familiar with the matter. The talks are ongoing and may not lead to a deal. An agreement could be announced as soon as Monday.
If completed, the acquisition would be the largest in Schneider Electric’s history, surpassing its previous record purchase of Aveva. It would expand Schneider’s presence in industrial and engineering software, which manufacturers use to design and manage products throughout their lifecycle.